“The general system for money management requires people to pretend that they can do something that they can’t do, and to pretend to like it when they really don’t.” Read Charlie Munger’s unfiltered wit and market wisdom over the years.
Many Americans, even those who don’t pay much attention to investing and the markets, know the name Warren Buffett.
Buffett, of course, is the billionaire philanthropist who created one of the greatest investment fortunes in history. Far fewer, however, know the name of his longtime business partner Charlie Munger. And that’s a shame, because Munger is at least half the brains behind Berkshire Hathaway BRK.A BRK.B, the holding company he runs with Buffett and which manages billions and billions of investor dollars.Notably, despite his deal-making prowess, Buffett is a big fan and longtime proponent of low-cost personal investing.
Munger turned 98 on Jan. 1. To celebrate his wit and market wisdom, here is a collection of quips from various interviews and question-and-answer sessions over the years.Those of you who are about to enter business school, or who are there, I recommend you learn to do it our way. But at least until you’re out of school you have to pretend to do it their way.
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